50 Cent is one of the hip-hop world’s biggest names, He’s also a big time actor nowadays and multi-millionaire businessman. So why has he just filed for bankruptcy? It’s pretty weird, huh? But the ‘In Da Club’ rapper is claiming to be broke and put the official papers to back that up.
Fiddy says that his assets total between $25-50m and that the figure doesn’t quite match his debts. So he’s had to declare bankruptcy. Who’d have thought it, huh?
Fiddy’s sold over 30 million albums worldwide and won more awards than he can keep track of, including a Grammy Award, 13 Billboard Music Awards, 6 World Music Awards, 3 American Music Awards and 4 BET Awards. He’s even starred in his own biopic movie, Get Rich Or Die Tryin’.
But it’s not just rap and films that made 50 Cent a rich dude. His Vitamin Water drinks sale to Cocal Cola saw him bag a reported £100m. But a series of lawsuits since the sale have seen the man’s fortune dwindle.
After a deal with Florida-based audio company Sleek Audio went wrong last year, a court ruled he had to pay them huge sums of cash to settle the case. And then, of course, there’s the weird story of that sex tape…
Fiddy ordered to pay Lavonia Leviston $5m recently after intentionally leaking an explicit video of her and her boyfriend in an effort to embarrass rap rival Rick Ross (who has a baby with her).
But you can’t keep a good man down. Fiddy’s a hustler and there’s no way he’s staying broke for long. One album, a big movie role, a new business deal… Whatever it is – we ain’t seen the back of him.